The Central Bank of Nigeria (CBN) is taking steps to strengthen agricultural credit guarantees, improve farmers’ access to affordable financing and attract increased private-sector investment into the agricultural sector.
The CBN Governor, Mr. Olayemi Cardoso, represented by the Deputy Governor, Financial System Stability, Mr. Lamido Yuguda, made this known at a two-day stakeholder roundtable in Abuja.
Cardoso called for stronger partnerships, improved risk-sharing mechanisms and market-driven financing solutions to promote sustainable agricultural development in the country.
He stressed the importance of collaboration among stakeholders in addressing financing challenges in the agricultural sector and creating an enabling environment for increased investment.
A major highlight of the meeting was the unveiling of the Agricultural Credit Guarantee Scheme Fund (ACGSF) Online Portal, designed to simplify access to agricultural credit and enhance the operational efficiency of the Scheme.
The portal is expected to improve access to information and streamline processes associated with the agricultural credit guarantee scheme.
At the end of the engagement, stakeholders reaffirmed their commitment to expanding agricultural financing, strengthening food security and promoting inclusive economic growth in Nigeria.
